Over the last couple of years I have been thinking about two things
1. That I would love to help students start up a club or group of some kind
2. That I fear for the financial intelligence of many of the young people out there
I know some people who have gone through high school and University successfully and are only now really learning about some of the key financial tidbits they wish someone had told them sooner. I also know that the Ontario Curriculum allows our students to get through the required courses without ever learning about these things (OK, so there is a chapter on interest and mortgages in Grade 11…but most classes don’t put this information into a context that makes it matter).
The above has led me to think that I should consider running “stuff you should know” type sessions for students who are looking to enter the “real world” (which may involve post secondary education, the work force, travel, etc). Here are some of the things I have thought about addressing:
- Keeping in touch with family
- Keeping in touch with friends
- Maintaining a work-life balance (job, school, social)
- Making friends in your “new” life
- Credit cards – what are they and should I get one
- Tips on saving (how and where)
- Perspective on the financial costs of education
- Student loans, Line of credit
- Bursaries, awards and scholarships
- Do I need a laptop? How to survive note-taking
- Services at post-secondary schools
Now I definitely see some overlap here with things that the guidance department at my school already addresses, but I think there could be a benefit to a separate small group setting that would be set up for discussions and questions more than generic info. I am not sure how well attended this kind of thing would be though, and that is the reason that I would much prefer to set up a club that students already express interest in. If it comes from them it is more likely to draw the interest of other students and keep the word spreading without a huge advertising effort.
Those are my musings on the topic for now. I don’t have a concrete idea on how to go about getting this started, but at least the thoughts are there, and now there is record of it. Who knows what next year will bring.
Original post at http://teachinginspirations.blogspot.ca/2012/07/future-of-financial-intelligence.html
Heather,
Thanks for your reflections. Please keep us informed as you work through this.
I understand the tendency to want to run this as a club, but I’m thinking that some (perhaps much) of this needs to be on the radar of every young person.
On the financial front, have you met Eric Rosenberg; he has written a couple of pieces here on the importance of “financial literacy”. It would be interesting to see the two of you have a conversation here about that aspect of your plan.
I would like to say more about the first few items on your list, but I will wait until I have thought about those a little more…
Thanks for being here and sharing your thinking!
Thanks for the reply Stephen
I agree that it should be on the minds of all, but I would have no idea how to get this to be more on the forefront of many more teachers minds….or how I could reach students outside of my classes. Maybe I can’t.
So perhaps it has to just become more of a regular thing for me in my classrooms to help getting kids talking about it.
I would think about using a topic a week on a Friday or something within my classroom.
Definitely some food for thought.
Heather, I’ve been working with teens in hopes of developing their financial intelligence, and the fundamental issue I think any program needs to address is the fact that adolescents are coming of age in a consumer-oriented culture. You can talk all you want about needs vs wants, and establishing good credit, but most students live as dependents and crave a life of instant-gratification. As educators, our challenge is to help them establish builder-oriented attitudes. My work is to encourage students to commit to taking ownership for their projects, and then have them manage classroom resources to build those projects, while also meeting their classroom responsibilities. Through this practice, I believe students recognise themselves as investors in their own choices. For me, this is a framework that can begin to develop intelligence that includes financial management, but extends into the broader implications of Character education.
Hi Eric!
First of all, my apologies for taking so long to respond. I tend to neglect my educational thinking during the summer months, especially since I work part time and house sit for my parents.
Thanks for the overall insights on this matter. Your ideas definitely pique my interest. Do you have any examples of how you do this that you could share? Because I have an interest in character ed, social justice and financial (and life) intelligence, these types of things make me wish more and more that I could get back into teaching mathematics (but unfortunately at my school this is unlikely to happen anytime soon) as I feel I could integrate this type of thinking more easily. Any more insight would be greatly appreciated!